2:16pm:Shares advanced after global investors took some disappointing United States employment figures in their stride and instead chose to focus on a strong US company earnings season.

Locally investors were focused on a slew of major Australian companies due to report half-year results this week, including Commonwealth Bank of Australia, Rio Tinto and Telstra.

The benchmark S&P/ASX 200 Index rose 55.6 points, or 1.1 per cent, on Monday to 5222.1, as the biggest banks and miners all lifted. The broader All Ordinaries Index added 1 per cent to 5236.5.

Local shares followed a positive lead from the United Stated where the three major indices all added more than 1 per cent despite official non-farm payrolls data showing the world’s biggest economy created only 113,000 jobs in January, missing expectations for 180,000 new positions.

“People are growing more comfortable with the concept that a freak cold snap in the US has had a real short-term impact on business activity, whereas at first it was difficult to comprehend just how severe the weather conditions have been and it sounded like a bit of an excuse,” Arnhem Investment Management head trader Simon Twiss said.

Major markets around Asia also moved higher this afternoon providing further support for the local bourse.

Economists and investors were eagerly awaiting the first major speech from new US Federal Reserve chair Janet Yellen, due Tuesday night, to hear her view on employment trends and the implications for monetary policy.

1:35pm: Here's something for the bears: investors should prepare for another global financial crisis where equity markets tank and property bubbles burst in 2014 or 2015, according to ultra-bearish economic forecaster and author Harry Dent.

The US economist argues the global economy is driven by five long-term cycles, which he asserts are all in a downturn. He predicts that against this backdrop, demographic problems in the key economies of China and Germany will tip the world into a recession over the coming 12 to 18 months. His latest book is The Demographic Cliff: How to survive and prosper during the great deflation of 2014-2019.

The five concepts at the heart of the doomsayer’s forecasting model are consumer and government spending cycles driven by demographics, an 18-year geopolitical cycle, alternating periods of inflation and deflation, a 30-year commodity price cycle, and a 10-year boom-to-bust cycle.

Central to Dent’s theories are his belief that the importance of demographic changes in spending habits are grossly underestimated: “Government’s and central banks didn’t cause the boom of the 1980s or the crash of 2008 – the baby boomers did,” he says.

Dent believes bulk commodity prices (iron ore, coal and oil) all reached the peak of a 30-year cycle in 2008 and will continue to decline until about 2023 when he predicts they will revisit the lows of the period from 1998 to 2000.

His outlook for gold prices are even more pessimistic. “As the result of a worldwide crash, sometime between 2015 to 2016 gold will go as low as $US700 to $US740 per ounce. It could go as low as $US250 to $US400 10 years from now.”

1:09pm:Billionaire parliamentarian Clive Palmer said the economy urgently needs a $6 billion-a-month stimulus boost on par with the one delivered in the US by the Federal Reserve’s controversial $US85 billion bond-buying program.

Mr Palmer said he was opposed to European-style “austerity” and said it was vital more money was injected into the economy. “At the moment it’s at rock bottom.”

In a letter sent to federal members of parliament ahead of their return to Canberra on Tuesday, Mr Palmer said the best example to follow was the one shown by the US.

“Following the financial crisis in the United States, President Obama moved decisively to stimulate the US economy. Every month over 85 billion were injected into the US economy for more than two years.

“This is the equivalent to an injection of over six billion dollars a month into the Australian economy.”

Mr Palmer said in his letter there were a “number of simple changes” that could turn Australia’s economy around, none of which “involved borrowing any money of any significance.”

He said unless action was taken, the economy could revert back to the state it was in after World War Two.

Online retailing got underway in the dotcom era and to its credit DJs got in early, picking up the assets of three failed ‘etailers’. But three years and $28m later, former CEO Mark McInnes closed the sites down. It was a grievous error.

It took almost 10 years for DJs to right the McInnes’ error. Paul Zahra launched the company’s ‘omnichannel strategy’ – a phrase that almost pleads for failure – in March 2012 but the moment was lost.

A few minutes spent at Asos.com or Theiconic.com.au and the gulf between native online retailers and those migrating from bricks and mortar becomes obvious.

But it’s not just online retailers sniffing out complacent incumbents. International retailers that have honed their skills in hyper-competitive US and European markets see huge opportunity in Australia. Gap, Ladurée, Mui Mui, Paul Smith, Top Shop, Zara, Abercrombie and Fitch, Hollister, H&M and Uniqlo have either already arrived or are coming soon. More will follow.

This makes the lives of department stores even harder, as does Australia’s shrinking middle class from which they’ve traditionally drawn their customers. This is a point not much discussed but of vital consideration.

12:26pm:McAleese’s stock has recovered slightly after this morning hittting a new all-time low after the NSW roads minister ordered the transport company’s Cootes petrol tankers off the road again following the discovery of fresh safety breaches.

McAleese’s shares are down 2.7 per cent at $1.09, after earlier sliding as much as 8.9 per cent to $1.02 after NSW roads minister Duncan Gay said spot checks of Cootes vehicles last week had found “major defects.”

The inspections come several months after one of McAleese’s Cootes tankers was involved in a fatal accident on Sydney’s Mona Vale road, which sparked investigations from safety regulators and the grounding of part of the Cootes fleet.

Ongoing safety concerns have worried Cootes’ customers, with McAleese revealing last month it had lost key haulage contracts with oil and gas groups Shell and BP just two months after the company’s stock floated on the Australian Securities Exchange at $1.47 per share.

12:17pm:Customer-owned lenders are urging the government to impose $1.4 billion a year tax on the big four banks, a move they claim will help level the playing field and support financial stability.

The lobby group representing credit unions, building societies and customer-owned banks argues in a new submission that the Commonwealth Bank, Westpac, National Australia Bank and ANZ should be forced to pay an annual tax for their ''too big to fail'' status.

Such a tax – which would replace a levy on deposits planned by the former Labor government – would reduce risk in the financial system and increase competition, the Customer Owned Banking Association says.

Smaller lenders argue the big four obtain an unfair advantage via cheaper funding, because investors assume they are ''too big to fail'' and would receive government help if they faced financial trouble.

11:56am:Growing concerns of a housing bubble are overdone, St George economists write in a note:

After adjusting for inflation, gains in Australian house prices do not seem excessive on historical and international comparisons.

There is also little sign that rising house prices is posing a significant threat to financial stability in Australia. Housing credit is well-contained - it grew at a modest pace at 5.4 per cent in the year to November and well below the very strong double-digit growth rates pre-GFC.

Additionally it appears that households are having few problems financing their loans; arrears rates on housing loans are low and have fallen since 2011.

We expect growth of around 5-8% for dwelling prices nationally this calendar year. Sydney is expected to continue to outperform other capital cities, but improved affordability across the country points to more broad-based gains.

Over the long-term, we expect dwelling prices, on average, to rise in step with household disposable incomes. However, there are cyclical factors that point to stronger growth in the near-term.

In particular, a rapid build up in the level of shorting in Cochlear has put the medical technology stock on CIMB’s radar, as has Sims Metal Management and UGL, with the added element of some poor share price momentum for the engineering firm leading into earnings season.

The high valuation on Fortescue shares is one of the biggest reasons for the stock looking vulnerable when the iron ore miner reports.

Shareholders beware: stocks that are most likely to disappoint this earnings season.

11:16am:Japan posted its smallest current account surplus on record last year in a worrying sign that sluggish exports and the rising cost of energy imports will hamper economic growth.

The deteriorating external position is also bound to put the spotlight back on Japan's ability to service its huge debt, which at over twice the size of its economy is the worst in the industrialised world.

The Ministry of Finance data also showed the current account balance for December slid to the largest deficit on record as exporters failed to reap the benefits of a weak currency.

"Gains in exports are weaker than I expected, reflecting declining competitiveness," said Hiroaki Muto, senior economist at Sumitomo Mitsui Asset Management. "The current account can remain in surplus, but the surplus will be small. This is an economic headwind that could place pressure on the government and the Bank of Japan to respond."

The Japanese yen slipped as low as 102.65 against the US dollar, its weakest in more than a week, before recovering to currently 102.38. The Nikkei is up 1 per cent.

10:56am: As David Jones chairman Peter Mason comes under pressure to stand down two non-executive directors and convince departing chief executive Paul Zahra to stay, analysts say the retailer’s earnings outlook is improving.

While group profits this financial year will take a hit from a 50 per cent decline in earnings from David Jones’s credit card business, Morgan Stanley analyst Tom Kierath says Zahra’s turnaround plan is already starting to deliver results in the department store business.

Morgan Stanley believes initiatives including an upgraded point of sale system, a new concession-style model for consumer electronics, store traffic counters, an enhanced private label offer and better category mix will boost gross margins and reduce costs, underpinning 10 per cent compound annual earnings before interest and tax growth over the next five years.

“David Jones is at the beginning of a turnaround phase, in our view,” says Kierath, who increased his 12-month price target to $3.50 compared with the current price of $3.09 (+1% for the day).

David Jones is due to release second quarter sales on Thursday.

Citigroup analyst Craig Woolford expects total sales for the three months ending January to rise 4.9 per cent to $619 millions and like-for-like sales to rise 2.1 per cent, the strongest growth for 13 quarters.

Citigroup believes David Jones’s online store - relaunched by Zahra in November 2012 - will account for about 1.1 per centage points of growth and its 36 bricks and mortar stores 1.1 per centage points. The strong sales growth will help the retailer fractionalise costs, boosting EBIT margins.

10:19am:George Soros’s Quantum Endowment fund has reclaimed the top spot as the world’s most successful hedge fund of all time, adding $US5.5 billion to the US billionaire investor’s fortune.

Mr Soros is best known for triggering the collapse of the British pound on Black Wednesday 1992, when Quantum made $US1 billion. Last year’s profits did not come from such an aggressive strategy, with the 22 per cent return spread across the different strategies of the fund.

According to a survey by LCH Investments, which is part of the Edmond de Rothschild Group, Mr Soros’s $US28.6 billion fund posted its best return since 2009, after calling an end to the financial crisis, the Financial Times reported.

The Quantum Endowment fund has now edged out American businessman Ray Dalio’s Bridgewater Pure Alpha as the fund that has made the most money for investors. For the past few years, Mr Soros and Mr Dalio have been in a tussled with each other for the top spot.

9:07am: A leading analyst slammed some of Australia’s biggest and most successful companies for destroying shareholder value through acquisitions.

David Errington, who has covered retail, consumer products and diversified industrials over the past 30 years, launched a stinging attack on Wesfarmers, Woolworths and Coca-Cola Amatil.

He says that in each of these companies diversification has destroyed value.

The Wesfarmers example involves the $20 billion purchase of Coles in July 2007.

“Despite management claiming it has been a successful acquisition for Wesfarmers, the facts are that returns on equity fell from positive 25 per cent pre the acquisition to 6 per cent post the acquisition and remain well beneath 10 per cent six years after the acquisition,” he says in a note to clients.

“In addition, dividends per share were above $2 a share pre the Coles acquisition and six years after, are still well beneath $2 a share.

“Clearly, the Coles acquisition has been (for Wesfarmers shareholders at the time Coles was acquired) a poor decision.”

Woolworths cops it for seeking growth outside of its core business of supermarkets which have very high margins and high cash generation.

The company has looked for growth outside of supermarkets through expansion of NZ Supers, Big W, gaming and hardware.

Coca-Cola Amatil’s expansion into canned fruit making through the purchase of SPC Ardmona is the example used to show diversification has destroyed value.

8:49am: Beer may be relatively affordable for working Australians, but our tax rates are among the highest in the OECD.

KPMG research shows that our 30 per cent corporate tax rate and 45 per cent personal income tax rate are higher than the Organisation for Economic Co-operation and Development average of a 25.32 per cent for companies and 41.51 per cent for individuals.

While the Coalition has pledged to reduce the company tax rate by 1.5 percentage points to 28.5 per cent from 2015, Australia is still behind most other nations when it comes to company tax.

Ireland continues to offer the lowest corporate tax rate in the OECD, at 12.5 per cent, which has sparked global debate about whether multinationals such as Google and Apple will continue to channel profits into low-tax countries.

No, it’s not the latest dire warning about global warming, it’s the way Swedish, and other Scandinavian, banks are upping their payout ratios towards the lofty heights occupied by those famed cash spigots, the Aussie big four lenders.

The Big 4 Australian banks paid around 78 per cent of their earnings as dividends in FY13, led by Westpac at 87 per cent. Amongst the other DM [developed market] banks, Swedish and North American banks are closing the gap to Australia.

In the recent FY13 results season, we had positive dividend surprises from four of the six Nordic banks we cover. Danske restarted dividends for the first time since 2007. SHB and Swedbank both announced 70 per cent-plus dividend payout ratios, while SEB announced a c. 60 per cent dividend payout (45% year-on-year increase in DPS).

Aussie banks are the biggest dividend payers, but Swedish lenders are upping their payout ratios.

8:10am:How expensive is a beer in Australia? Very, if you've just been to a number of European countries. But if you look at the price in terms of how long you have to work to be able to afford a schooner of lager, it turns out you're in for a good deal in Australia.

8:10am:Franklin Resources, the largest shareholder in Qantas, has further tightened its grip on the share register ahead of the release of the airline’s half-year results and an update on its strategic review on February 27, writes the AFR's Street Talk.

Franklin, whose holding includes shares managed by Melbourne-based Balanced Equity Management’s Andrew Sisson, has raised its stake to 15.4 per cent from 14.3 per cent. The second-largest stake, at 8.96 per cent, is held by Colonial First State. Capital Group, now the third largest holder with 6.57 per cent has reduced its holding in recent weeks.

8:02am: As usual all the talk is on the major banks, but what about their smaller peers?

Bell Potter has lifted its rating on Bank of Queensland to "buy" because of its improving asset quality and a comparatively cheap share price.

The broker's analyst points out the regional lender’s 12-month total return is now expected to be greater than 15 per cent, which includes a grossed-up dividend yield of 7 to 8 per cent.

The broker argues the pull-back in the bank’s share price over the past month is excessive given the ameliorated medium term earnings outlook expected from the Virgin Money Australia platform.

Bell Potter argues BOQ “is now more than well capitalised and provisioned to start looking towards normalising and growing earnings again” and the broker insists tightened credit risk disciplines, the leverage to the East Coast and a better wholesale funding environment all bode well for the lender.

7:54am:Insurance comparison website iSelect will drop the value of commissions it receives from its main supplier of car insurance in an attempt to increase the number of people who go on to purchase a new policy after using the comparison service.

The company has signed a new two-year agreement with Auto & General Services, which is the company behind a number of insurance brands already offered on iSelect, such as Budget Direct, Heels & Wheels and Kudos.

7:47am:Macquarie and ANZ are among firms planning bids for about $2 billion of loans being sold by Investec, said two people with knowledge of the matter.

Non-bank lender Pepper Australia, buyout firm Archer Capital and regional lenders Bank of Queensland and Bendigo & Adelaide Bank are also among suitors studying the loan portfolio, said the people, asking not to be identified as the details are private.

NAB also plans to bid, one of the people said.

It seems unlikely a private equity group could outbid a Big Four bank given the funding characteristics of the deal, writes the AFR's Street Talk.

Investec, which owns a bank and money manager in South Africa and the UK, cut 80 jobs and closed or scaled back its Australian securities, equity capital markets and structured financial products businesses last year. In November, it appointed advisors to review the potential sale of some Australian units.

Investec said in November it will provide an update by the end of March on the possible sale or joint venture of its Australian asset finance and leasing business and professional finance division, which lends to doctors, dentists and lawyers.

7:44am: Turning to the best and worst on show this morning, Forge Group shares continue their trend of intense volatility, this time up 9.2 per cent in early trading, only pipped by the slightest of margins by Evolution Mining.

G8 Education has surged after announcing it's buying 63 childcare and education centres for $104.67 million, which will bring its empire to 296 centres. The stock is up 5.8 per cent.

Western Areas shareholders have received a boost after the nickel miner upgraded its annual profit guidance.

7:35am:Regional Express has warned its first-half profits will slump due to fewer business travellers, and urged the Abbott government to intervene to help an aviation industry that is ''financially haemorrhaging and approaching collapse''.

Days after Virgin Australia was forced to confirm it would post a large half-year loss, the nation's largest independent regional airline has forecast a fall in pre-tax profits by 60 per cent to about $5 million for the six months to December after business travel ''really plummeted''.

Leisure travel also declined slightly during the first half, a period when Australian airlines typically make the bulk of their earnings.

Rex chief operating officer Garry Filmer said regional airlines were harder hit than Qantas and Virgin, which would both post big half-year losses. ''The entire aviation industry is financially haemorrhaging right now and approaching collapse. Regional aviation is even harder hit [than large domestic airlines] as the profit margins are slimmer,'' he said.

''We have already seen the collapse of two of Australia's oldest regional carriers during this financial year, Aeropelican and Brindabella.''

7:30am: Shares have started the week on a positive note, following a very strong lead from Wall Street and other global markets on Friday.

The ASX 200 is up 0.7 per cent to 5166.5, with gold miners (up 2.8 per cent), energy (up 2.1 per cent), consumer discretionary (up 1.7 per cent) and metals and mining more broadly (1.5 per cent higher) the early leaders among the sectors.

Among the big names, Westpac was the biggest individual driver of the market gains, adding 1.3 per cent, followed by CBA, BHP, NAB and ANZ.

Rio Tinto is up 1.2 per cent, while Newcrest Mining has gained 3.6 per cent.

7:15am: Westpac senior markets strategist in Auckland Imre Speizer believes the Australian dollar is likely to push back above US90¢ over the next three months, dashing the Reserve Bank’s hopes of much lower levels.

In a note to clients, Speizer says on a one to three-month view, the Australian dollar, which is currently trading at US89.58¢, is vulnerable to higher levels.

But some Japanese fund managers believe further weakness in the currency is inevitable given China’s appetite for commodities is much less than what it used to be during its infrastructure boom phase, and as a consequence weakness in commodity prices should weigh on the currency.

Mizuho Asset Management is predicting the Australian dollar will fall to US80¢ in a year after surging to US89.59 on February 7.

Tokyo-based BNP Paribas Investment Partners Japan is also understood to be waiting for the currency to drop to lower levels before buying the nation’s debt, even after RBA governor Glenn Stevens signalled an end to the central bank’s easing bias and jawboning of the currency that helped drive the local dollar to a three and a half year low in January.

The dollar moved to within a whisker of US90¢ on Friday night, after US jobs data disappointed but retreated shortly afterwards.

Friday’s US jobs reports figures were “particularly complex in terms of content and implications,” writes Mohamed El-Erian, the outgoing CEO at Pimco.

But “the combined impact of all this goes well beyond attaching a 'mixed' label to this morning's employment report,” he writes in Forbes.

What it may indicate is that the significance of the headline jobs figures is becoming a less reliable indicator of the US Fed’s thinking around monetary policy, something he believes new US Fed chair Janet Yellen could expand upon when she testifies to Congress on Tuesday night, Australian time.

The latest data point “highlights three issues that will be with us for a while,” he says:

The widely followed (and cited) headline numbers no longer provide a good snapshot of conditions on the ground. Today's labor market is an increasingly complex aggregation of consequential segments with different conditions, dynamics, and policy implications.

The Fed will no longer be able to focus on the unemployment rate as a key indicator for its policy stance. It will give more prominence to other variables, including an inflation rate that remains too low and a labor market that is quite fragmented.

For their part, investors should no longer extrapolate future policy changes from the Fed's previously-articulated "unemployment threshold".

6:35am:Growth in US non-farm payrolls was well below market expectations in January, but Wall Street still rose (is bad news good news again?).

Non-farm payrolls rose 113k against expectations for a 180k increase. November was revised up to +274k but the weak December print was left basically unchanged at 75K.

Poor weather appeared to be less of a driver of the result than in December, with the household survey “not at work due to bad weather” series remaining relatively benign. In addition, construction jobs, which are normally adversely affected by severe weather, added 48K.

"Equities took the result in their stride, however, presumably reckoning that the potential delaying impact on tapering outweighs what it suggests about general economic momentum," ANZ says.

6:22am: The Australian sharemarket looks set to open higher following gains on Wall Street despite disappointing US jobs data.

The weaker-than-expected US non-farm payrolls release was the key driver of markets on Friday night.

The US Labor Department said the economy added 113,000 jobs in January, far below the 175,000 forecast. Analysts said there were some positive aspects to the report, such as the rise in labour force participation.

How some of the main markets performed:

SPI futures rose 37 points to 5159 on Saturday

The AUD briefly rose to near 90 US cents but is now fetching 89.55 US cents

Quotes Search

Some of us comprehend that assets traded on global financial markets go up and down. This seems to upset some people who want to believe they only go up.

Manufacturing workers in Australia are in the front line of Australia's structural problems. Unfortunately almost everything in Australia has become too expensive relative to our productivity and ability to make money. I wish Toyota workers well and hope they are appropriately supported even though our government is already borrowing money to make ends meet.

Commenter

Gordon Akman

Location

Broadbeach

Date and time

February 10, 2014, 1:53PM

Nice wishes, Gordon. But not a chance. They and their tens of thousands of mates in the auto-components sector will join the ever-growing ranks of the unemployed, eventually to be labelled dole-bludgers by a gov't unwilling and unable to find jobs for them. The objective is to be establish a huge pool of unemployed to suppress wages and conditions to increase business profits. However the catch is, if wages fall, who will be spending money, other than on the basics.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 2:06PM

TOYOTA'S GOING IN 2017

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 1:41PM

I bought in at $11.90. Won't be long now and I will have made half my money back!

Commenter

FMG

Location

Shareholder

Date and time

February 10, 2014, 1:41PM

People talk about NCM being up 40% off the lows but I'm up over 41% off the lows :D

Commenter

What about me?

Location

KCN shareholder

Date and time

February 10, 2014, 1:38PM

"Gold stocks surged 5.6 per cent"

Love it!

Commenter

Gordon Akman

Location

Broadbeach

Date and time

February 10, 2014, 1:36PM

Nice finish to the day 5222.10, I like it!

Commenter

Ellen

Location

Prahran

Date and time

February 10, 2014, 1:25PM

Clive Palmer writes "Following the financial crisis in the United States, President Obama moved decisively to stimulate the US economy. Every month over 85 billion were injected into the US economy for more than two years."How can Palmer be so ignorant -- the 85B has nothing to do with Obama! How can this fool and his money not have been separated by now?

Commenter

THammer

Location

Melbourne

Date and time

February 10, 2014, 1:25PM

Your 1-36pm call was on the money @Ellen!! Maybe you could organise some local training for @Allen??

Commenter

Dan2

Location

NorthWestDrought

Date and time

February 10, 2014, 1:23PM

You ok Al...

Hehe....poor thing!

Thanks for playing!

ROFLMAO!

Commenter

A wounded bull

Location

is an angry bull

Date and time

February 10, 2014, 1:20PM

wounded concern yourself with your mortgage matey

Commenter

no banks .. no party!

Location

30yrs+

Date and time

February 10, 2014, 1:52PM

I agree with Clive... $6B a month please ;) Bring on the margin loans hehe

Commenter

GS

Location

Date and time

February 10, 2014, 1:18PM

Sweet 5.5% recovery in Reckon (RKN) after being down on Fri. Nice to have averaged down.

An accounting company that actually makes money. No XRO for me!

Commenter

GS

Location

Date and time

February 10, 2014, 1:12PM

NCM just sold for a nice profit 16% - wait for the drop around Wednesday and buy again

Commenter

Pete the Pom

Location

Melbourne

Date and time

February 10, 2014, 1:10PM

CBA closing on a daily high +1.81%. A good sign for tomorrow in my opinion.

Commenter

It's All About Making Money

Location

Lennox Hd

Date and time

February 10, 2014, 1:10PM

Why is BBG in the red??!!!!!

Commenter

Angry ant

Location

Under sully's foot

Date and time

February 10, 2014, 1:00PM

Has Mr Allan gone long?

Commenter

Taylors Lakes Student

Location

Date and time

February 10, 2014, 1:39PM

"The department store era is all but over. The principal task for directors is to manage the decline."

Now who was that broker pushing Mcaleese last Monday, as a stock to be overweight in, just before the airing of the 4Corners program on the trucking industry where Cootes & Mcaleese copped a serve over safety.http://www.afr.com/p/opinion/mcaleese_rated_overweight_by_jpmorgan_f4GSJMejjwdzyljFrzsWLN

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 12:42PM

Today: "No new lows!"

Today: "McAleese’s stock has recovered slightly after this morning hittting (sic) a new all-time low"

"Disgraced AFL star Campbell Brown is selling his contemporary duplex in the golfer-mad Benowa precinct, marketed at offers over $700,000."

"Brown paid $715,000 for the 395sq m property in 2010."

Oh dear.

Commenter

zero profit

Location

- 4 years of expenses

Date and time

February 10, 2014, 12:11PM

Poor bugger will probably have to go and live with with his old man big bad Malcolm Brown, he will have a spare sofa in the bedsit I am sure!

Commenter

Knocker of all

Location

Prahran

Date and time

February 10, 2014, 12:37PM

Housing bubble talk? Every time Harvey Dent is trying to sell a new book? And worthless books since none of his predictions since 1989 materialise. Still waiting for the 30-40% housing corrections predicted for 2011-2014

With a population of 23M, we'll just open the floodgates to rich foreigners.

****Brace yourselves, the Market Live Blog property bears are coming****

Commenter

GS

Location

Date and time

February 10, 2014, 12:11PM

lol NOT Harvey.... HARRY! Too much Batman for me hehehe

Commenter

GS

Location

Date and time

February 10, 2014, 12:26PM

I predict there will be a boom & a bust sometime in the future.

When it happens, you may quote me in the papers & on tv. Cheers guys! :)

Commenter

GS

Location

Date and time

February 10, 2014, 12:27PM

Just found a good link tracking some pr predictions. DOW 41000 by 2008-2010 hehehe

Japanese industry has been hollowed out over the last 20 years, very similar to how the U.S. industrial complex was hollowed out in the 1970s. Japan has lost its trade competitiveness to countries like Korea. If the Japan current account continues to weaken, a big unwind on the Nikkei is a possibility given how highly leveraged the Japan trade is.

Commenter

Kyle Bass

Location

Date and time

February 10, 2014, 12:06PM

Unwind? oh yes.How will they service their debt again?

Commenter

mushy

Location

Date and time

February 10, 2014, 12:19PM

Cannot wait for 5240 then you will see the mother of all shorts, just watch me!

Commenter

Liberated Dreamer

Location

Prahran

Date and time

February 10, 2014, 12:02PM

I have many fans. Thank you.Shame a few missed the call. I had to come out of semi-retirement to post this!

Commenter

Liberator

Location

SEQLD

Date and time

February 10, 2014, 12:49PM

On Friday Westpac pushed through $31.40 to break upward through a sloping downtrend it has been travelling down since Nov. That is positive and may well set a new pattern.

Commenter

Learner

Location

Melbourne

Date and time

February 10, 2014, 11:47AM

On Friday I posted that WBC outperformed the other 3 of the Big 4 both in terms of share-price increase and volume, and wondered why.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 12:05PM

hahaha @Mitch I remember! You though it was because they had a new CEO, a good looking one remember...

Commenter

Aussie Al

Location

Adelaide

Date and time

February 10, 2014, 12:19PM

I was referencing this article:http://www.smh.com.au/business/markets/why-attractive-ceos-boost-share-prices-20140106-30cnc.htmlSurely you didn't miss it.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 12:35PM

No time for your cutting and pasting @Mitch, I have a life lol

PS - How can you lose ground in a by election, something not right with all your ranting!

Commenter

Aussie Al

Location

Adelaide

Date and time

February 10, 2014, 12:48PM

She won, he lost, yet again. End of story. After all, Joe Hockey thinks the people who elected this gov't are "losers", he said so. I'd pate the link but you wouldn't bother to read it.

Of course you could propose that if you rented your negatively-geared house to a low-income family at a rate less than market, you could retain negative-gearing. There are schemes where investors can get cash payments from State gov'ts for renting new to rental properties to low-income earners.

A number of factors Gordon,There are not a lot of investment instruments in China that aren't government controlled.A feeling that the property market may be too high or at its peak within China.No real superannuation and a means to diversify.If you stand up too high in China and not too connected, you may find your business bought out from under you & your capital gone. Best to shift it offshore where it may be safer than leaving capital in China

Commenter

Econorat

Location

Sydney

Date and time

February 10, 2014, 12:11PM

Who says that there's no money in honey. Check out CZZ. up $0.94c or 24% on good results announced today.It's a stock that makes it's money from bees, so the ZZ in it's ASX code seems appropriate.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 11:37AM

You holding out on us Mitch??? Where are the tips before the jump? Show us the love!

Commenter

GS

Location

Date and time

February 10, 2014, 12:03PM

If I gave you the tips beforehand I could be the one missing out. Actually I have never held that stock and wouldn't have bought it for this reporting period as it doesn't pay a dividend until the next reporting period in July. But I do feel a little sting in missing out on that honeypot this time.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 12:22PM

Great result. Too bad I don't own any because I buy their honey!Notice that small Agri stocks are popular in recent weeks, like SHV and to a lesser extent TGR.

Commenter

Learner

Location

Melbourne

Date and time

February 10, 2014, 12:22PM

@ Sully. Why would Joey attack negative gearing. He will continue to attack the poor because these are easy pickings and they vote Labor. However if things get really bad then how far will he go?

Commenter

Gringo

Location

Date and time

February 10, 2014, 11:37AM

For Chumlee, our resident anti-scientist, in case you missed it when Allan posted it.

http://www.skepticalscience.com/graphics/ArcticEscalator2012_med.gif

Commenter

Fred

Location

Date and time

February 10, 2014, 11:36AM

I am not anti science.I am against the corruption of correct scientific methodology,for whatever reason.I am against selective reporting of climate observations and generalisations stated as if they are factual.I am against illogical claims of predictions by vested interest groups,who profess to know what will happen in the future,when they clearly don't even understand what is happening now.

Commenter

Chumlee

Location

Date and time

February 10, 2014, 1:05PM

ASX humming along purrfectly! I like it!

Anyone seen my lost pussy cat, answers to the name of Allan etc, etc

Commenter

lost & found

Location

pet alert

Date and time

February 10, 2014, 11:30AM

Squeeze me baby! he he

Commenter

JBH

Location

long at $22

Date and time

February 10, 2014, 11:28AM

SBM up 6.45%, long in the money, I like it!

Commenter

Virtual Trader

Location

Prahran

Date and time

February 10, 2014, 11:21AM

Newcrest Mining up 5.5%, I like it.

Commenter

D

Location

Prahran

Date and time

February 10, 2014, 11:35AM

"Only five out of about three hundred Australian equity funds have had a positive return every year since 2008" - Chris Gosselin from Australian Fund Managers

Oh so stocks don't only go up? Who would have thought?

Commenter

Bill "Shorty" Shorten

Location

Date and time

February 10, 2014, 11:21AM

"Online retailing got underway in the dotcom era and to its credit DJs got in early, picking up the assets of three failed ‘etailers’. But three years and $28m later, former CEO Mark McInnes closed the sites down."

David Jones is a joke lol

Commenter

Gordon Akman

Location

Broadbeach

Date and time

February 10, 2014, 11:14AM

Can someone enlighten me please. Is reporting season generally a good time for the Index? Obviously individual shares will react to their own performance, but if there are several good results, is it fair to say the market in general gets a boost?

Commenter

"P" Plater

Location

Tassie

Date and time

February 10, 2014, 11:08AM

I favour technical analysis which is the study of patterns, yet do not see seasonal patterns based around a calendar year. So the period to which you refer does not conform to a 'seasonal' pattern. Look at the ASX chart over previous individual years and you will see little consistency.

Commenter

Learner

Location

Melbourne

Date and time

February 10, 2014, 11:39AM

I did that, looking at the past 5 years and there was a considerable degree of consistency between time of year and what directions the charts were going in. You could clearly see the effect of reporting periods and the ex-dividend effect. 2012-13 started to break well away after June 13 and the comparisons became problematic so I abandoned the effort. I will revisit the data.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 12:26PM

pfffffffffffffshhhh, and down she goes!

Commenter

panda

Location

perth

Date and time

February 10, 2014, 10:28AM

It will finish equal or better to today's high of 5214, pollyannas will not want to miss out on the bargains lol

Commenter

Ellen

Location

Prahran

Date and time

February 10, 2014, 10:36AM

dont think so - sideways I reckon

Commenter

Yin or yang

Location

Date and time

February 10, 2014, 11:30AM

I am looking good @ Yin or yang - 5211 at 16.00, see what happens in the last 10 minutes. See you tomorrow, have a good evening!

Commenter

Ellen

Location

Prahran

Date and time

February 10, 2014, 1:01PM

Now that Joe and Tony have told us the age of entitlement is over do you think that will apply to the "big 4" Australian banks if they get into trouble? Or will they go offshore to the US Federal Reserve like Westpac and NAB during the GFC?

Commenter

gasp

Location

Date and time

February 10, 2014, 10:21AM

nah just tap the CLF that we all pay for

Commenter

mushy

Location

Date and time

February 10, 2014, 10:46AM

"Dent, a business consultant, stock-market prognosticator and author who says now is the time to sell stocks, has plucked an old argument off the dusty shelves of 1980s political rhetoric (“We’re nothing like Japan! And that’s horrible!”) and given it a new coat of paint: We’re exactly like Japan! And that’s horrible!

Japan’s stock market is still 65% below its 1989 peak. Their spending problem (currently being given a boost by a gigantic stimulus) is really, says Dent, an aging problem.

As the Japanese have hit their 60s and 70s, they became stingier. Artificial, forced spending like government stimulus is not going to spark real voluntary spending because that isn’t what old people do. They’ve already paid for their houses, cars and their children’s schooling. Merchants try to goose lackluster sales by cutting prices, which increases the incentive for people to save their money, expecting things will be cheaper in the future than they are today.

That’s a deflationary spiral, and Dent sees it coming here next, and soon.

Post-crash, the US economy has been limping along for nearly five years despite a series of massive fiscal and monetary stimuli. A principal reason for what growth we have had is the spending pattern of rich people, who tend to put off their big purchases years later in life than the average. Their peak spending year should be, according to Dent, 2014."

Commenter

Ryan

Location

Date and time

February 10, 2014, 10:21AM

I must agree, I know many people in my age bracket ( 30-45 y.o.) that are madly saving money and reducing their debt. Buying cheaper food and clothes, the little luxuries are still thereBut not in vast quantitys like 4-5 years ago. The younger generation is now more about saving than my generation but we are hot on their heels. The older we get the more we scrimp and save because we dont believe all things are " GOOD" . Just waiting for Joe to eleimate Neg GearingTax breaks for housing this budget. Hang on to your hats !!

Commenter

Sullys Foot is Down

Location

South Freo

Date and time

February 10, 2014, 11:10AM

So the issue is what are the aged and otherwise frugal Boomers going to pay money for.. there are plenty of things I can think of.. repairs to houses, renovations and their kids.. health and holidays, Harleys , etc etc.. they will be spending the kids inheritance, as pensions will barely cover their extended life expectancy.. trading down from the family home to a flat in town, where coffee shops, and entertainments will be the growth industry rather than new cars and school fees..Pretty much the entire pool of SMSF will be "used" not saved.. so the economy will not crash.

Commenter

Lean Too

Location

Date and time

February 10, 2014, 11:15AM

@Lean Too, most will go in Mum & Dad's final 2 years paying for aged-care accommodation. By then any gov't funding for that sector will be totally inadequate due to the sheer volume of demand from the legions of baby-boomers compared to the number of workers.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 11:41AM

My experience is that boomers only really tend to increase their spend on overseas holidays, not much else. They are ussually happy to drive hyundais even though they can afford a bmw or 2. Unless of course the wife is really persistent or threatens divorce.

Commenter

Ryan

Location

Date and time

February 10, 2014, 11:43AM

@ Lean to. Im young but i know boomers who live in dalkeith and claremont who like i said, only really increase their spend on holidays. They would never consider moving into a unit/apartment. They are also happy to drive hyundais / toyotas. They value family time more than anything else and so spend on things that enrich family time spent together. Hence the holiday spend and saving for a rainy day.

Commenter

Ryan

Location

Date and time

February 10, 2014, 12:03PM

Gold futures still bullish, There will be no stopping the precious metal in the very near future. China just keeps buying tonnes of it.

Shorts are going to help it along nicely...and that's the way it should be!

Nothing against shorters really but I support investors in the market place and don''t approve of anyone renting my shares.

Commenter

Gold Balls

Location

Date and time

February 10, 2014, 10:17AM

I am with you there Gold balls!

Commenter

Shorts R 4 Summer

Location

Prahran

Date and time

February 10, 2014, 10:30AM

Am I the only one who has the computer fan go nuts when viewing this blog? Is it the auto update? If I close this page the fan stops. If I open it, it goes mental.

Time to experiment with another browsers on this page.

Commenter

GS

Location

Date and time

February 10, 2014, 10:04AM

Afternoon all. Seems like a typical subdued Monday. Interesting article in today'sFin Rev about Glyn Lawcock and his views on BHP and RIO. I hope he is correct with RIO!

Commenter

Aussie Al

Location

Adelaide

Date and time

February 10, 2014, 10:03AM

If the indirect taxes are distributed to personal and corporate, what would the chart look like?

Commenter

Davidvk

Location

Sydney

Date and time

February 10, 2014, 9:58AM

When JBH was around $22 recently there were media reports about an impending "short squeeze" in the stock. What happened to that "short squeeze" that was referred to? I can't seem to see it materializing in the share price... LOL

Enjoy!

Commenter

Bill "Shorty" Shorten

Location

Date and time

February 10, 2014, 9:52AM

Did anyone get the Aurora (AUT) bonanza, had them on my watchlist but missed out and now the horse has bolted. Cie la vie!

Commenter

The Fireman

Location

NSW

Date and time

February 10, 2014, 9:43AM

It wont be the last of the takeover action in the oil and gas sector, IMO. I just hope it isn't AWE as I sold mine on the flurry last week. Some of these companies have quite a bit of cash.

Commenter

Yin or yang

Location

Date and time

February 10, 2014, 1:21PM

Come on bulls. 5200 isn't that high is it? Well maybe it turned out to be in 2006 but we are in 2014 now. Shouldn't the ASX move up strongly above 5200?

Commenter

Jackaroo

Location

Date and time

February 10, 2014, 9:42AM

Watch this space lib

Commenter

Mister5100

Location

Date and time

February 10, 2014, 9:50AM

Quiet Monday as usual, but still bullish!

Never hear anything from the Shorts King when the market is bullish, save for a few pseudonyms lol

Commenter

The Shorter

Location

Broadbeach

Date and time

February 10, 2014, 9:39AM

Anyone got a view on carsales.com Ltd. around these prices?

Commenter

Gordon Akman

Location

Broadbeach

Date and time

February 10, 2014, 9:38AM

some of the cheerleaders this morning prob not so vocal right now .... lets see what happens this arvo!

Commenter

J.

Location

Syd.

Date and time

February 10, 2014, 9:33AM

I actually think it will rally in afternoon trading, now that we have got the panic merchants out of the way!

Commenter

Little Miss Sunshine

Location

Prahran

Date and time

February 10, 2014, 9:49AM

"panic merchants"? How can you blame them. I can understand that someone who bought something in 2006 might be a little concerned that it still trades for the same price in 2014 lol

Commenter

Debbie

Location

Dallas

Date and time

February 10, 2014, 10:11AM

Arctic Sea Ice Volume: September Minimum

1980: 15,000 cK2012: 3,500 cK

It's growing rapidly!!!!!!!!

Commenter

5th grade student

Location

What's a climbatologist teacher?

Date and time

February 10, 2014, 9:23AM

European Space Agency CryoSat satellite data shows..Arctic Sea Ice Volume,,Oct,2012, was 6000 cubic kilometers.Oct,2013,,it was 9000 cubic kilometers.I will let you do the math,it will be good practice for you.

Commenter

Chumlee

Location

Date and time

February 10, 2014, 10:09AM

Chumlee are you seriously going to use the same figures that you were caught out on last time?

2012 had the lowest Arctic sea ice ON RECORD. 2013 had the 6TH LOWEST ON RECORD. What is it with you anti-science extremists and mathematical dunces not understanding the difference between a trend and a statistical blip? If you think the 6th lowest ice on record following the lowest ice on record is somehow evidence for your bizarre anti-science cause, it doesn't bode well for your investment decisions.

Commenter

Fred

Location

Date and time

February 10, 2014, 11:31AM

"Oct,2013,,it was 9000 cubic kilometers."

You made that up.

http://www.youtube.com/watch?v=9OBCXWAHo5I

Commenter

Allan

Location

Prahran

Date and time

February 10, 2014, 12:44PM

"Arctic sea ice appears to have reached its annual minimum summer extent for 2013 on Sept. 13, the NASA-supported National Snow and Ice Data Center (NSIDC) at the University of Colorado in "oulder has reported. Analysis of satellite data by NSIDC and NASA showed that the sea ice extent shrunk to 1.97 million square miles (5.10 million square kilometers). "

phys.org/news/2013-09-arctic-sea-ice-sixth-lowest.html#jCp

Why post a figure that's not the minimum when were comparing minimums?

Commenter

Jo Nova

Location

It's hot in here

Date and time

February 10, 2014, 12:50PM

The figures I posted are correct. If you want to post figures over a different time frame that is up to you. I have only stated the facts.

Commenter

Chumlee

Location

Date and time

February 10, 2014, 1:10PM

Pants down there Chumlee! The propaganda machine....caught out again.

Commenter

Duncs

Location

Melbourne

Date and time

February 10, 2014, 1:30PM

Duh... whats 7/62... duh.

Commenter

Math illiterate

Location

Taylors Lakes

Date and time

February 10, 2014, 9:16AM

What's 13/62 deeeerrrIntraday high 75c

Commenter

Rose coloured

Date and time

February 10, 2014, 10:16AM

So the gov't proposes to cut the Clean Energy Target (CET) on the basis that it and the carbon tax are forcing up power prices. http://www.smh.com.au/federal-politics/political-news/clean-energy-firms-fear-cuts-to-targets-20140209-32a0v.htmlSo the flow-on effect of that will be to place more reliance on the existing power fuel sources being coal and gas. Gas prices are expected to triple in coming years as local consumption has to compete with export prices. That can only mean that the cost of power is expected to increase substantially and negate any reduction in price from the removal of the carbon tax and the CET. Once again ideology overrules common sense. That is becoming the defining theme of this gov't. Relevance of power prices to markets, if you have to ask a question like that you shouldn't be investing in the stock market.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 9:01AM

go on @Mitch, really!

Commenter

Abel

Location

Date and time

February 10, 2014, 9:16AM

Aren't there more appropriate blogs you can peddle this green/political diatribe on?

Commenter

Grinch

Location

Date and time

February 10, 2014, 9:16AM

The carbon tax had only a minute effect on last years temperature. Payment of this tax should be voluntary so that people like Mitch can have a clear conscious.

Commenter

Gringo

Location

Date and time

February 10, 2014, 9:26AM

The carbon tax will ensure our economy is prepared to run on a low carbon basis when the enevitable crippling future cost of carbon based fuel push many economies to 3rd world status.

Commenter

J.

Location

Syd.

Date and time

February 10, 2014, 9:39AM

@Gringo, altho I support the concept of the carbon tax I would be quite happy to see it go. I look forward to future Question Times when opposition MPs can berate the gov't, waving their constituents' electricity bills, with questions like, "Mrs Bloggs has seen a 20% increase in her electricity bill but she has reduced her power use by 10%. Why has the removal of the carbon tax not seen her electricity bill fall as you promised."

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 9:46AM

Good thoughtful stuff @Mitch. We are all mugs really. Sucked in.

Commenter

Red Rooster

Location

In the Bush

Date and time

February 10, 2014, 10:07AM

NSW private power retailers just announced IPART approved price increase of no greater than CPI over next 5 years.No price increase problems thereVery different to the +20% increases over the past 5 years mainly due to gold plating of the distribution system over those years. All under the control of govt ownership

Commenter

BigKev

Location

Caringbah,NSW

Date and time

February 10, 2014, 10:10AM

@mitch, power prices will only go up regardless of the carbon tax. One main reason for this is the way the grid owners are allowed to charge for the infrastructure. They are allowed to make x% of asset value regardless of how much power it carries. So every house that goes solar pulls less from the grid and the remaining grid users pay more so the grid owners still make their x%. Ultimately as solar continues to get beeter and bigger systems houses will not use the grid and apartments will be left paying higher amounts. This pricing policy also means solar will continue to be more attractive with less gov subsidies.

Commenter

Wwwish Lion

Location

Melbourne

Date and time

February 10, 2014, 10:25AM

Yawn. Thanks for yet another cut and paste from the federal politics section.

Commenter

Kane

Location

Date and time

February 10, 2014, 10:28AM

@BigKev, don't forget the huge dividends NSW takes out of its state-owned power assets, Well over $1bn in dividends and tax equivalence payments. Taxation by stealth. How much higher are power prices than they would be without that taxation.Hopefully the IPART ruling will keep power prices in check but it does give the big lie that the RET is an excessive burden. All of that new renewable energy infrastructure is saving the cost of building and/or replacing ageing power-stations with the added bonus that renewable generation has no fuel-input cost. That's why the coal-miners want to see the end of it.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 10:35AM

I'm waiting for the home loan data... I don't really care what it says (because its just a reflection of the bubble anyway) But immediately after, it'll be safe to start shorting the AUD again

Commenter

Pete

Location

Perth

Date and time

February 10, 2014, 9:01AM

but why wont gen y buy my fibro shack investment property off me for the $600k of debt i paid for it?

Commenter

angry ant

Location

taylors lakes

Date and time

February 10, 2014, 9:00AM

Because they just purchased their own in Caroline Springs and need that $600K to help pay it off.. Thanks Mum and Dad

It went up significantly last year after A COUPLE OF DECADES of stagflation. Japan has been stuck in a rut for years.

Rapidly shrinking population, out of control debt, worsening radiation emergency at Fukushima, neighbours that despise it - Japan doesn't have much going for it at the moment.

Commenter

Fred

Location

Date and time

February 10, 2014, 9:18AM

Yep I know all that but you can't compare daily/weekly Nikkei moves against the ASX.

You can expect them to have very heavy down days/weeks after rising 55% in 2013.

Commenter

GS

Location

Date and time

February 10, 2014, 9:36AM

There is a lot of short action going on at AWE, will be very interesting to watch it play out!

Commenter

The Fireman

Location

NSW

Date and time

February 10, 2014, 8:35AM

Let the good times roll, 5600 here we come!

Commenter

Little Miss Sunshine

Location

Prahran

Date and time

February 10, 2014, 8:30AM

Steady on there @LMS, you are getting all excited way too early, 5050 has held up the which is the main thing!

Commenter

Kookaburra

Location

Broadbech

Date and time

February 10, 2014, 8:56AM

Laughs, not with the US budget/unemployment/congress/health care all in disorder.

Commenter

Patrick & Loretta

Location

Melbourne

Date and time

February 10, 2014, 9:08AM

How expensive to buy a beerwell in some countries you get beere,biere, beer,up to 10% al k hol, but here you get, nats peeDont try to baffle us with bulldust a jelly beansYou buy 20 500ml bottles of beer in a bottlestore for 11 --14 euros, top beer, a meal in a bottle,in De or Belgium those same beers here are 160 ror 20 min

Commenter

stu

Location

Date and time

February 10, 2014, 8:29AM

*hic early start?

Commenter

BearShapedBull

Location

MugPunters Lounge

Date and time

February 10, 2014, 9:05AM

Business day is broken.Can't find ANZ and when searching, but when selected from 'popular shares' below it shows wrong price (the intraday chart looks fine though!).

Commenter

Joe the POM

Location

Geelong

Date and time

February 10, 2014, 8:16AM

ASX recovered from last week dip... . Europe /US Economies really not that Bad and China is not HARD Landing.Stay Calm , do your home work and you won't be trapped/tricked !

Commenter

Stay Calm Up Down is Norm

Location

Date and time

February 10, 2014, 8:10AM

Anybody else getting hammered on their BBG shorts?

Commenter

Terrible

Location

Investor

Date and time

February 10, 2014, 8:09AM

me (as usual)

Commenter

FIGJAM

Location

Prahran

Date and time

February 10, 2014, 8:33AM

Not me, i never get stopped out even if it moved 25% against me, intraday. I added to my shorts.... GiftAlso my mqg short is in the money too. This game is too easyHehe

Commenter

Al

Date and time

February 10, 2014, 8:46AM

..and don't forget my 100% success rate of gifts in 2013.Enjoy me.

Commenter

Al

Location

Prahran

Date and time

February 10, 2014, 9:00AM

LOL someone missed the 85% on the way down. Diddums.

Commenter

Math illiterate

Location

Taylors Lakes

Date and time

February 10, 2014, 9:18AM

LOL who's got you all angry? A tad upset with the shorters are you? He he....

Commenter

I'm long BBG at $5

Location

They'll come good one day... sniff...

Date and time

February 10, 2014, 9:21AM

I never lose....

Commenter

Stopped out

Date and time

February 10, 2014, 10:17AM

Too scared to post in your real name today al? Did you have to sell your name to cover your losses again?He he

Commenter

Gee up

Date and time

February 10, 2014, 1:12PM

Positive start to monday which has been a rarity....still need to see 5350 before we are doing any better than the good start in january...no torpedos today.

Commenter

BearShapedBull

Location

MugPunters Lounge

Date and time

February 10, 2014, 8:09AM

@Confused. "The glass is half full, the glass is half full, the glass is half full"...."Don't understand you glass half empty guys. You're all so pesimistic, you must be fun at parties".........

Hold on, what happened to the glass? It's empty. There's nothing more ironic than saying it's always been great so it always will be...You too, land of mil;k and honey guy. We're killing Australia with that way of viewing things. Call something paradise, kiss it goodbye and all that.

Commenter

JohnBB

Location

Date and time

February 10, 2014, 8:02AM

@JohnBB, while it would be foolish to wear rose coloured glasses and only look at the positives Australia has to offer, and completely ignore the problems, it is equally foolish to only focus on the problems and to come on here screeching "we are doomed!!" on a daily basis. I have actually lived in a country that is doomed, and while Australia has some challenges, it also has a lot going for it, including a lot of resourceful people. It may have some tough times ahead, but so do a lot of other countries and the whole "we are doomed" hysteria only looks at the dark side, without even considering the positives. Things will be challenging, but I do not believe for 1 second that Australia is doomed.

Commenter

confused

Location

syd

Date and time

February 10, 2014, 11:18AM

With the greatest of respect, get out of Australia. Do some travelling. Come back, see how great we've actually got it (again with respect) and that should cure your whinging. It completely baffles me how one of the most prosperous countries on Earth manages to talk itself into the doldrums.

Commenter

Bear

Location

Bait

Date and time

February 10, 2014, 1:30PM

Market taking a little breather, chance to grab some day trade profits, don't miss the boat

Commenter

Dip Buyer

Location

Prahran

Date and time

February 10, 2014, 8:00AM

100% correct @DB, many stocks overbought on the euphoria late Friday, panic sets in at first slight drop in the market, hey presto, many losses all round, crazy stuff!

Commenter

Astute Raider

Location

Date and time

February 10, 2014, 8:27AM

So will this report on where all the heat has gone make the carbon & climate change deniers rethink their position. I doubt it. It's really hard to admit you have been wrong. http://www.smh.com.au/environment/climate-change/stronger-pacific-trade-winds-linked-to-stable-air-temperatures-20140209-32a96.html All of that extra heat accumulating in the Pacific explains Australia's recent record-breaking temperatures in a non-El_Nino period and likely means that the next El-Nino phase will wreak havoc on our weather-dependant industries and make the rest of us very uncomfortable. Air-conditioning doesn't work too well when it's 50C.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 7:57AM

Thanks for the cut and pastes Mitch. It's nice to know that if I want to read articles from the federal politics and environmental sections of this site I can just come to the business section and read your posts. I never would have known where to look otherwise.

Commenter

Kane

Location

Date and time

February 10, 2014, 8:08AM

...and the relevance to the markets?

Commenter

Cracked Record

Location

Prahran

Date and time

February 10, 2014, 8:08AM

Relevance to the markets, let's see, how well do you think agricultural, pastoral and grain companies will do while we have a sustained heatwave. A report out of South Australia last week showed that the week before last's heatwave there cost the State's economy $350m, much of it in lost industrial production, ie business profits. That's in one small State in one week. How much would that cost spread over the whole of Australia for several months. I won't bother to cut and paste the link in, you and Kane can find it for yourselves.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 8:26AM

Thanks for the heads up, what are your thoughts on the market's behaviour today champ!

Commenter

Cracked Record

Location

Prahran

Date and time

February 10, 2014, 8:40AM

The really interesting bit is the thought that once conditions change all this stored heat will be "given back" accelerating the process in so doing.. what the hell are we going to tell the kids.. "we knew it was going to happen and deliberately did nothing, as our short term investment returns were too good to miss and the cost of carbon tax was too scary"

Commenter

Lean Too

Location

Date and time

February 10, 2014, 8:46AM

"I won't bother to cut and paste the link in" Is that a promise Mitch? Does that also mean you'll stop with your biased political crusade that is better suited to the federal politics section? Sounds great to me.

Commenter

Kane

Location

Date and time

February 10, 2014, 8:48AM

Some key statements from the same article.'Model projections assessed by the IPCC AR5 fail to capture the magnitude of this process'' This is proof that the IPCC models are flawed. 'Scientists have yet to fully explain the recent slowdown in the rise of temps.attributed to the global warming pause'. Proof that they don't know everything after all.Trying to control the climate is impossible.

Commenter

Chumlee

Location

Date and time

February 10, 2014, 8:48AM

Dear climate change deniers - try living in central Victoria right now - 3 years of an extended la nina and now the dry is back with a vengeance and the state is on fire AGAIN - this is the new reality - deny all you like - there is fact and there is fiction - eventually you will see because there will be nothing else to see - I'll bet the farm on it

Commenter

Julia

Location

Central Victoria

Date and time

February 10, 2014, 9:17AM

@Chumlee, and now the new data is available to fix those models. You won't like the results.@Lean Too That heat accumulating in the Pacific is going to be "given back" in the form of more frequent and severe storms. I wonder how often Brisbane and northern NSW and even regions far to the south have to flood before the message sinks in. I won't touch insurance-related stocks for that reason.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 9:25AM

They are just including variables that previously they didn't know about. This does not mean that they now have it right,or that they can make more accurate predictions.

Commenter

Chumlee

Location

Date and time

February 10, 2014, 10:03AM

@Chumlee, and even if their models proved to be 100% accurate you would still find some justification in discounting them. There is nothing so comforting as a firm grip on unreality.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 10:14AM

Before the trade wind idea there was this'The recent decline in solar activity has caused the global warming pause''.Seriously? Could it be that solar activity actually has more impact on global temperatures than man made CO2 levels?Surely not.

Commenter

Chumlee

Location

Date and time

February 10, 2014, 10:16AM

Mitch, you mean to say that I would do what they are doing?

Commenter

Chumlee

Location

Date and time

February 10, 2014, 10:21AM

@Chumlee, at the end of this process the scientific community will have peer-reviewed verifiable data which will carry weight with policy and decision-makers. You will have nought but your opinion.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 11:33AM

Mitch,the policy/decision makers will only be able to do that if they win elections.I just want the voters to be able to make informed decisions,based on all the available information,not just the parts promoted by one vested interest group. Every voter has their opinion and should be free to express it. As the recent election has shown,bad policy will be rejected.

Commenter

Chumlee

Location

Date and time

February 10, 2014, 1:20PM

I do like it when it's up. ;)

Commenter

Dave

Location

Brisvegas

Date and time

February 10, 2014, 7:49AM

don't we all @ Dave,

Commenter

Bachelor

Location

Prahran

Date and time

February 10, 2014, 8:11AM

CBA - Showing good strength today, chart very nice at the moment. Will it shoot up over the coming days with the profit announcement on wednesday and ex div soon? An increase in dividend would be very welcome by the market in my opinion.

Commenter

It's All About Making Money

Location

Lennox Head

Date and time

February 10, 2014, 7:48AM

I'm glad I saw last Wed as a buying opportunity rather than the beginning of the end - as some did on this site. Some will refer to this as the classic 'dead cat bounce' and none of us can prove this wrong - the argument is that all market increases simply delay the inevitable. My money says otherwise and ultimately it's what you do with your money, not what you say that counts.

Commenter

Yin or yang

Location

Date and time

February 10, 2014, 7:39AM

me too

Commenter

misterhorsey

Location

melbourne

Date and time

February 10, 2014, 7:56AM

But when you have a good profit, don't hold back from taking at least some. The market is slow to give but can take it all back and then some, in a heartbeat.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 8:07AM

That's a really long wick on the weekly chart last week. Personally i thought it was on the way down but i'm having doubts now.

Commenter

J.

Location

Syd.

Date and time

February 10, 2014, 8:16AM

Agreed with the profit taking, i decided to sell 1/2 holding in PBT last week @ 1.25 after it was going against the flow all week, today down 14% for no apperent reason.

Commenter

BearShapedBull

Location

MugPunters Lounge

Date and time

February 10, 2014, 8:30AM

A lot of things go well in 3s. Triangles, Stool legs. Colours. Investments. Specifically, Split your money between currency, metals, and other (equities, shares, including super).

Glad to see the Swiss people ignore the big political parties, the mainstream media and big business to vote to end mass migration.

The Australian system doesn't allow for such democratic processes as citizen referenda on policy, so mass migration will continue here for years to come.

Commenter

Fred

Location

Date and time

February 10, 2014, 7:16AM

GEM - +6.69% acquiring 63 childcare and education centres.

Commenter

It's All About Making Money

Location

Lennox Head

Date and time

February 10, 2014, 7:14AM

I expect big cuts to childcare funding, amongst a host of other cuts, in the forthcoming budget Higher unemployment will mean less people needing childcare services. This company has expanded by leaps and bounds recently but I wonder how firm the foundation is and how solid the outlook. Enjoy the leap in the share price while it is there.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 7:47AM

I looked at and purchased FGE last week. It is definitely in play and really shooting up. Take care though as it can burn you as it has many others.

MNZ is a strange one. It has gone up and up since re-listing. Up more then 60%.

Commenter

GeoPerth

Location

Date and time

February 10, 2014, 7:13AM

Welcome to the FGE rollercoaster - it's a wild ride! I bought at $4.99 (!!) and then again at 49c and 74c. Still sitting at just under $2K loss overall, but hopeful that I can at least get out with either a small profit or breakeven. Here's hoping that it keeps moving in the right direction....

Well once again I have to disagree with Joe Hockey. Regular readers of my posts here won't be surprised. But when he said on Friday that "losers are very good at picking governments" I thought he had been too honest. I don't think those who voted for his party are losers, deluded, yes, but not losers. http://www.smh.com.au/federal-politics/political-news/private-sector-must-shoulder-the-burden-by-buying-public-assets-says-joe-hockey-20140206-324o8.html I did agree with his statement tho, that the private sector should buy gov't assets and the proceeds would be invested in infrastructure. Much as I hate privatisation because prices increase and service levels drop away to provide the profit expected, the cash to stimulate the economy has to come from somewhere, not just more debt. Infrastructure spending will provide a good boost to employment, business profits and taxation revenue. There may be some hope for us yet but don't limit the new infrastructure spending to just new roads, you know how quickly they fill up (with "refugees in their cars" according to that Liberal MP with "sex appeal"). The problem is that the lead-times for both sales by privatisation and the subsequent infrastructure projects are very long and the benefits may not kick-in for years

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 7:08AM

that's right mitch, meanwhile back at markets live the ASX200 is up again for the 3rd day in a row.

Commenter

Serial Pest

Location

Prahran

Date and time

February 10, 2014, 8:13AM

So long as these infrastructure projects are not being driven by powerful political interests as were those multi billion Brisbane white elephants, the Clem 7 and Airport Link in Brisbane that have gone broke, sending billions of super funds in smoke since they were completed. This is why the attempt of Tony's government to undermine the independence of Infrastructure Australia with new laws that will allow the infrastructure minister - a politician - to pick projects to hurry through without a full and independent assessment, over projects already judged to be of more value or urgency, must be stopped.

Commenter

Catch 22

Location

Date and time

February 10, 2014, 8:29AM

Don't worry, there won't be any infrastructure spending under Joe Hockey. The talk of infrastructure spending is just to justify the privatisation of public assets. Hockey will follow the example of Howard & Costello and spend very little on infrastructure while squirrelling the privatisation cash away to fund expensive give-aways just before the next election.

Commenter

mitch of ACT

Location

Date and time

February 10, 2014, 8:43AM

They should take a leaf out of my book lol

Commenter

Wayne Swan

Location

World's beat Treasurer

Date and time

February 10, 2014, 8:53AM

Mitch, I had in mine the East-West project in Melbourne which the Vic government is desperately trying to ram through even though Sir Rod Eddington's in depth analysis said it would only return 50 cents for every dollar and the Vic gov has come up with the magical figure of $1.40 but refuses to give Infrastructure Australia the details or explain how they could come up with figures that are so far out of alignment with Sir Eddington's exhaustive examination and besides there are more urgent, better value projects, like the Ring Road and Metro Tunnel assessed as worthy and ready to go.

Commenter

Catch 22

Location

our leading politicians are clowns

Date and time

February 10, 2014, 9:23AM

Nooooooooooooo sold my GEM to rebuy cheaper! :(

Commenter

GS

Location

Date and time

February 10, 2014, 7:08AM

It hurts. I seldom long term regret a sell decision but you're going to get a few wrong. In particular, surprise takeover offer day after always hurts. With GEM, I'd be patient, you'll probably get another chance on a cooler market day. Extra child care centres wont always seem like agood idea..

Commenter

Yin or yang

Location

Date and time

February 10, 2014, 7:45AM

Airlines haemorrhaging because FIFO is shrinking. Perth and Brisbane office vacancy rates rising fast because of the winding back of new resource projects.. Watch as their hotel and serviced apartment vacancy rates rise. Iron ore is now doing what copper has been doing the last couple of years despite the endless talk of the endless boom from the China shop bulls. Orica is now trying to offload its general chemical business because one of its biggest customers - the auto industry - is facing imminent extinction and gas prices are set to soar. The auto supply chain, which counts about 150 companies, is on the verge of collapse and will send massive shockwaves through SA, Vic and even parts of NSW..

Housing boom!.

Commenter

Catch 22

Location

Date and time

February 10, 2014, 6:42AM

The sooner/faster house price comes down the better.

Commenter

sad FHb

Location

Date and time

February 10, 2014, 7:04AM

Yes indeed the FIFO is nearly over as I have lots of friends frantically looking for work to pay for their investment property mortgages - as Allan would say "poor little landlords"

Commenter

I told you so

Location

Melbourne

Date and time

February 10, 2014, 7:17AM

Might also add that super could be in for rocky ride as SMSFs move into property on the hope of further growth & yields. Fund Managers have been chasing short term growth & yield as this is what their bonuses are based on while savy overseas fundies from Korea, China, Britain & Canada have been buying up toll roads, ports, electricity & other infrastructure for everlasting cash flows & long term growth. Not all roses for Australia's longer term future.

Commenter

Seb Gonzo

Location

New Farm

Date and time

February 10, 2014, 7:28AM

I noted Norwegian Air is planning a low cost long-haul route of Bangkok - Oslo/Stockholm/ somewhere in a America. So with a bit of work and a stopover or two along the way it might just be possible to get from Australia to Europe return for under $1000 again soon. Couple of changes of clothes, tablet, camera, mobile and we are on our way!! If it gains traction I wouldn't want to be a full service carrier. Disclaimer - I am only five foot seven and thin, so cattle class is just fine for me.

Commenter

Dave

Location

Brisvegas

Date and time

February 10, 2014, 8:00AM

Rob Burgess"For 15 years, the Australian media have celebrated the nation’s appetite for pouring domestic and foreign capital into non-productive assets – the housing stock – while many firms have failed to recapitalise to upgrade technology, management techniques or plant and equipment." How to gut a vibrant economy101Some firms have recapitalised tho, albeit in Thailand

Commenter

mushroom

Location

Date and time

February 10, 2014, 8:19AM

Perth Houses in CBD ( YES we till have houses in the cbd) are RED HOT , just made $210K in 12 months . now just have to buy a place to live :(

Commenter

Sullys Foot is Down

Location

South Freo

Date and time

February 10, 2014, 8:37AM

Everyday, the voices tired of this bubble grow louder.

Commenter

Pete

Location

Perth

Date and time

February 10, 2014, 9:29AM

Here we go again, bad economic data > less pressure on taper > de-value fixed income > attractive risky assets. More importantly, why the hell are we following Wall Street anyway? First/second trade partner = China/Japan, the NATO alliance dream is nothing but a burden on our national interest (Iran/Afghanistan, btw, where are they when we needed them to deal with Indonesia, oh I don’t know, like right now?).

Commenter

Patrick & Loretta

Location

Melbourne

Date and time

February 10, 2014, 6:32AM

We have a US Marine base in Australia now. They don't need to get involved in any diplomatic Indonesian issues. But they are ready for anything else.

Oh but I agree following Wall St is a joke. Follow the down days and flip a coin on the up days!

Commenter

GS

Location

Date and time

February 10, 2014, 6:43AM

Simple, we are a Nation of sheep, bolting from one end of the paddock to another, for no reason in particularSheep followBe A Goat, a Capricorn, a doer, not a follower